Yes I'm definitely getting that tool holder as soon as I get the chance, the one that's on it now is pretty much useless and I find myself stacking up shim stock all the time to get it just the right hight so everything is centered... It would be MUCH easier to just do an adjustment and keep going whenever swapping out cutters. it does work once the hight is established with the shim stock, but it also flexes just enough to be noticeable on really fine cuts so I also find myself shimming up the other side of the tool holder or just putting another cutter on the opposite side if I need to turn anything harder than brass.
It does work and will get a beginner by, but it's definitely more time consuming... I know littlemachineshop.com has a lot of goodies I've been looking at for this little lathe like that quick change tool rest which is #1 on my list for it, but they also have the metal change gears, larger 4 jaw chuck, the 14" conversion bed, and they even have a DRO setup and CNC conversion goodies as well.
I'll probably get a small mill first, but I do fully intend to upgrade the lathe now that I'm using it more.